Jabil Circuit Plummets After Q4 Results, Weak Guidance

Jabil Circuit JBL reported positive earnings results this afternoon after reporting a fourth-quarter EPS of $0.56 versus the Street's estimate of $0.54. Earnings per share were up four percent from the year-ago period. Jabil Circuit also reported revenue at $4.81 billion versus the Street estimate of $4.53 billion. Sales were up 11 percent year-over-year. "Delivering record revenues, generating more than a billion dollars of cash flow from operations, and achieving a core return on invested capital of 21 percent are clear highlights of our fiscal year," Jabil's Chief Executive Officer Mark Mondello said in a company release. "In addition, we are pleased to return nearly $200 million in capital to shareholders through dividends and share repurchases, while continuing to thoughtfully invest capital back into the business, both organically and acquisitively, with an eye on long-term earnings growth." Jabil Circuit may have delivered record revenue, but it seems that the company will not perform nearly as well next quarter. During the first quarter, Jabil Circuit anticipates an EPS within the range of $0.50 to $0.60. This does not compare well to the $0.63 EPS that Wall Street expected. Jabil Circuit also expects its sales to be lower than Wall Street, with Q1 predicted to come in at $4.35 billion to $4.65B versus $4.84 billion. The full-year 2013 EPS is now expected to come in at $2.48, Jabil Circuit revealed. Wall Street thought it would be higher at $2.65. Disclosure: At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report. Louis Bedigian is the Senior Tech Analyst and Features Writer of Benzinga. You can reach him at louis(at)benzingapro(dot)com. Follow him @LouisBedigianBZ